Formerly the site of a large hotel that stood like a sentinel on one of the highest points of land in Denver, the property at the intersection of Interstate 25 and East Hampden Avenue will soon become a 362-unit apartment complex.

Denver-based Forum Real Estate Group expects to open the first of its units at Veranda Highpointe in early July.

Forum is billing Veranda Highpointe as “luxury boutique living in a resort-style setting.” Rents will start at $1,100 for studio units and cap out at about $3,000 for three-bedroom units.

Amenities will include concierge services, outdoor courtyards, a rooftop lounge, spa, sport court, dog park and a multilevel parking garage. The developer is touting a “lazy river” pool as its signature amenity.

Ron Throupe, assistant professor at the University of Denver’s Burns School of Real Estate and Construction Management, said a recent boom in apartment construction is “in general, not out of control, but it could happen at some point.

“Lenders are already hesitant and not lending as aggressively on new proposals, thinking the project may be late to take advantage of the boom. So there is some ‘policing’ of product happening.”